FMJ Facilities Management magazine providing industry-specific intelligence to FM and property professionals
The UKHospitality Quarterly Tracker, in association with CGA shows revenue was up 4.2 per cent in 2022 compared to 2019, but down 13 per cent in real terms when inflation is accounted for.
The latest Q1 Hospitality Members Survey has revealed that almost a third (32 per cent) of businesses are at risk of failure in the next year, as cost pressures, ongoing labour shortages and Covid-19 debt, have left many hospitality businesses in a perilous position.
UKHospitality is now calling on the Chancellor to address the root causes of inflation in the Budget. It is calling for intervention in the energy market, Apprenticeship Levy reform and a new business rates multiplier to provide an immediate boost to the sector and prevent business failures, allowing those that survive to “invest, employ and grow”.
UKHospitality Chief Executive Kate Nicholls said: “These figures show the challenging position the sector is in. The demand from the public is quite clearly there, with revenue exceeding pre-Covid-19 levels, but there is no way venues can take advantage of this demand as they drown amidst price rise after price rise.
“Without action, we can see just how stark the year ahead could be with a third of businesses at risk of failure. Venues are simply unable to pass prices onto the consumer at the same rate they are experiencing their own costs rise.
“If the Chancellor wants to stem the bleeding in hospitality and stop those prices rises, which unfortunately contribute to inflation, he can take action in the Budget.
“We know one of the Government’s key priorities is cutting inflation and growing the economy, which we support. Hospitality is a prime sector to achieve this, with a track record of delivering rapid growth.
“Intervening in the energy market to stop unscrupulous behaviour by energy suppliers, reforming the Apprenticeship Levy and tackling disproportionate business rates would signal his commitment to the everyday economy and its ability to lift the nation out of its economic slump.”
8th March, 11am – 12pm
On International Women’s Day 2023, FMJ is teaming up with Alcumus, leaders in supply chain compliance, and their client Sodexo, world leader in catering and facilities management, to explore how FM professionals can deliver unique value to existing and prospective clients by creating a diverse and inclusive supply chain to help drive resilience and compliance.
According to research, 92 per cent of consumers are more likely to trust a company that supports social or environmental issues while 58 per cent of employees consider a company’s social and environmental commitments when deciding where to work.
The all-female panel will explore how Alcumus and Sodexo are working in partnership to deliver supplier chain compliance for Sodexo, and why they are both so passionate about promoting diversity and inclusion beyond the workplace and into the supply chain.
The webinar will also discuss:
- Why supply chain compliance is influencing FM provider selection
- Why supplier diversity is so important in FM
- How to identify and mitigate risk in your supply chain
- How to ensure diversity and inclusion in your supply chain
Click here to register for this free event.
